It's that time again! The numbers are in, so we want to give you a quick market update for the Sacramento area!
Basically, we are seeing what we expected to: inventory is increasing, sales activity is up, and prices are gradually appreciating. We could dive into specific data, but what's important is that you get a detailed analysis specific to your home and neighborhood, because the numbers can vary greatly.
We usually see more inventory put on the market starting in June, before this rise in listings starts to plateau around July. When that time comes, market activity is still very high, but it begins to taper off a bit toward autumn and the end of the year. The one thing we can really focus on is the supply of inventory relative to demand. Supply in the $200K-$300K price range sits at only 1.2 months and supply for the $300K-$400K price range is at 1.5 months, which is fantastic news for homeowners in those price ranges! You have a lot of leverage if you plan on selling in the Sacramento area in the near future!
If you have any questions about specific market conditions in your area, or if you need real estate assistance of any kind, don't hesitate to reach out to us. We can help you make the most of the market, whether you're buying or selling. We would love to hear from you!